Five New Companies Added To The U.S. Marijuana Index

The U.S. Marijuana Index has an addition of five new companies courtesy of MJIC Inc. The addition has been occasioned by quarterly rebalancing. The requirement of being in the index is that a company must have had a weighted average minimum market capitalization of $30 million.

The addition has resulted into the jumping of the US Marijuana Index from a level of 48.39 a year ago to 70.83, which is an increase of 46%. The cannabis stock market had suffered a setback in the first quarter of 2017 following the US elections. The likes of North American Marijuana Index decreased 67%. The companies that made it to the index

mCig

The group’s focus is on electronic cigarettes and vaporizers, which it not only makes but it also markets and distributes them. This explains why it has a $76 million market capitalization. Nonetheless, its stock was not spared because in the last three months, it has fallen 22%.

Marapharm Ventures

The company’s investment is mainly in medical and adult-use marijuana businesses. However, despite having been listed in the U.S. for a very short time, it has been very active in the states. It has also traded up over 400% in the Canadian market even though it has not been making revenues in any of the last eight quarters.

AmeriCann

Besides its provision of venture capital to emerging cannabis businesses, the company has massive cannabis operations in the real estate. It owns state of the art cultivation and processing facilities and celebrates in its market of $75 million.

Solis Tek

The company, which imports and distributes digital lighting maximizes in electrical efficiency. It recognizes that lighting is one the many challenges that indoor growing facilities have to bear. Alongside its $37 million market capitalization it has also recorded an $8.5 million in revenues.

Cannabics

The company, which is licensed for both scientific and clinical research specializes in the development of personalized anti-cancer. It also has a role in palliative treatments. It market capitalization is in the tune of $236 million